Ashish Kacholia-backed Vikran Engineering IPO opens for subscription; GMP at 21%. Should you bid?

Vikran Engineering’s Rs 772 crore IPO opened for subscription, featuring a fresh issue and an offer for sale, with strong GMP indicating investor interest. The company, an EPC player in power, water, and railway sectors, plans to list on BSE and NSE. Proceeds will fund working capital and general corporate needs, supported by positive analyst recommendations despite some risks.

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